Shareholders Have Standing To Sue In Insider Trading Lawsuit, Judge Rules
Mealey's (November 12, 2015, 2:36 PM EST) -- SANTA ANA, Calif. — A federal judge in California on Nov. 9 denied a motion to dismiss filed by defendants in a securities class action lawsuit, ruling that, among other things, the lead plaintiffs have standing to sue for insider trading (Anthony Basile, et al. v. Valeant Pharmaceuticals International Inc., et al., No. 14-2004, C.D. Calif.).
(Opinion available. Document #57-151116-019Z.)
Lead plaintiffs State Teachers Retirement System of Ohio (Ohio STRS) and the Iowa Public Employees Retirement System (Iowa PERS) and plaintiff Patrick T. Johnson filed a...